The above line; in the preface to "A First Course in probability"-6th edn by Sheldon Ross; got me thinking. When even light has dual nature(particle/wave), where we are not certain about the exact location of sub atomic particles(Heinsenburg's uncertainity principle), then how can we be certain about much less exact things?
Schools, Colleges and some extent work teach us that there is only 1 right thing. But where even "established theories" in any area(economics, finance, law, astronomy) get refuted, should we be so blaise about insisting on only 1 thing?
This no doubt helps standardization but does it really serve the objective? Instead of having 1 number, we should take a probability weighted number for that or better still, present the distribution instead of the number.
No comments:
Post a Comment